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10/12
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get the rate down, lower deductions and exemptions to create more jobs because there's nothing better getting us to a balanced budget than having more people working, earning more money, paying more taxes, that's by far the most effective and efficient way to get this budget balanced. >> jim you may want to move on to another topic but i would like to say this to the american people, if you believe we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over 10 years, that's more than our entire defense budget
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax tadd up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, get...
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Oct 3, 2012
10/12
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last four years -- how in lord's name, can they justify raiding their taxes with these tax cuts? >> vice-president biden just today said that the middle class, over the last four years has been, quote, buried. we agree. that means we need to stop digging, by electing mitt romney the next president of the united states. [cheers and applause] of course, the middle clationz class has been buried, they are buried by regulations and buried by taxes and borrowing, they are being buried by the obama administration's economic failures. >> greta: so will the obama campaign take a political hit with that one, mr. speaker? it's dangerous to talk these days? >> look, it's pretty hard to take anything joe biden says seriously. but if you look at it from -- there are two parts to t. he admits that in the last four years, that's the obama years, the middle class has been buried. highest price of gasoline in the history. hits the middle class. the unemployment rate hits the middle class. the debt being piled up, hits the middle class. but then he goes on to say something which is frankly nutty.
last four years -- how in lord's name, can they justify raiding their taxes with these tax cuts? >> vice-president biden just today said that the middle class, over the last four years has been, quote, buried. we agree. that means we need to stop digging, by electing mitt romney the next president of the united states. [cheers and applause] of course, the middle clationz class has been buried, they are buried by regulations and buried by taxes and borrowing, they are being buried by the...
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Oct 9, 2012
10/12
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i'm not in favor of a $5 trillion tax cut. >> analysis from the nonpartisan tax policy center found romney's plan would cost the country $5 trillion over the the next ten years. romney's friends at fox news say romney doesn't have to explain his fuzzy math. here's chris wallace defending romney's flip-flop to governor martin o'malley. >> the president keeps saying that mitt romney is proposing a $5 trillion tax cut. that's not true. >> chris, wait a minute here. former governor is proposing a cut to income taxes including for the wealthiest of americans and i believe a 30% cut to corporate income taxes. >> any economist may debate whether that adds up to $4.9 trillion or $5 trillion. >> you're mischaracterizing the romney plan. you're saying, you're right, $5 trillion by lowering the tax rates, but he also talks about cutting loopholes. that's part of the plan. >> he won't say which loopholes and which deduction. >> joining me is e.j. dionne, author of the new book "our divided political heart." i've got so much heart. you know the details, the devil in the details, however, you want to say
i'm not in favor of a $5 trillion tax cut. >> analysis from the nonpartisan tax policy center found romney's plan would cost the country $5 trillion over the the next ten years. romney's friends at fox news say romney doesn't have to explain his fuzzy math. here's chris wallace defending romney's flip-flop to governor martin o'malley. >> the president keeps saying that mitt romney is proposing a $5 trillion tax cut. that's not true. >> chris, wait a minute here. former...
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Oct 4, 2012
10/12
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he said he calculates how much they pay in taxes. state income tax, state sales tax, gasoline tax. it added up to well over 50% of what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower the deductions and exemptions. the same idea behind simpson, by the way. lower the deductions and exemptions to create more jobs, because there is nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective way to get this budget balanced. >> you may want to move on to another topic, but i would say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense, that's more than our entire defense budget, and you think that by closing loopholes an
he said he calculates how much they pay in taxes. state income tax, state sales tax, gasoline tax. it added up to well over 50% of what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower the deductions and exemptions. the same idea behind simpson, by the way. lower the...
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Oct 4, 2012
10/12
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federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the rates down to create more jobs because there is nothing better for getting us to a balanced budget than having more people working, earning more money, pay more taxes. that is by far the most effective and efficient way to get this budget balanced. obama: jim come you may want to move onto another topic, but i want to say this to the american people. if you believe we can cut taxes by $5 trillion that $2 trillion in additional spending that the military is not asking for, $7 trillion, just to get a sense of her 10 years, that is more than our entire defense budget. anything by closing loopholes and
federal income tax, federal payroll tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. in your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so, what i do is bring down the tax rates. lower deductions and exemptions. the same idea behind simpson/bowles, by the way, get the...
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Oct 7, 2012
10/12
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president, you are right with regards to 97% of the businesses are not taxed at 35% tax rate, it's a lower rate. those businesses, the last 3% happen to employ half, half of all the people who work in small business. >> okay. please respond to that. there is so much nonsense in that little bit of sound. >> first of all, the statistic that it employs half is ridiculous. let's look at it carefully. under that definition of small business, i'm a business. why? because i have written a book. i get royalties. that's business income. mitt romney cuts my taxes. now, i'm not going to hire anyone. this idea that cutting the taxes is going to lead to job growth is absurd. in contrast, the president saying i'm for tax cuts but i am if you actually hire someone. >> my brain was soup as i was trying to sort through all these definitions. the sba, small business administration is trying to define it as a business with 500 people or less. it's not the definition being used here. the definition here is a tax status. in this study. >> this is where the fact is wrong. >> yes. thank you. >> all people
president, you are right with regards to 97% of the businesses are not taxed at 35% tax rate, it's a lower rate. those businesses, the last 3% happen to employ half, half of all the people who work in small business. >> okay. please respond to that. there is so much nonsense in that little bit of sound. >> first of all, the statistic that it employs half is ridiculous. let's look at it carefully. under that definition of small business, i'm a business. why? because i have written a...
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Oct 7, 2012
10/12
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economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. we should bring the tax rates down. for corporations and individuals. for us not to lose revenue, i lowered deductions and credits and intentions so we keep taking in the same money when you account for growth. energy is critical. the president pointed out that production of oil and gas in the u.s. is up but not due to hisall of the increase in natural private land, not on government land. your administration has cut the number of permits and licenses in half. if i am president, i will doublei like coal. people in the coal industry feel like it is getting crushed by your policies. i w
economy tax. gasoline prices have doubled under the president, electric rates are up, food prices are programs. the president mentioned those ideas. education. it is key. it is the future of our economy. we have 47 training programs. they are reporting to eight agencies. we have to get those dollars back to the states and to the workers so they can create pathways into training they need for jobs that will help them. we should bring the tax rates down. for corporations and individuals. for us...
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Oct 9, 2012
10/12
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. >> first of all, i don't have a $5 trillion tax cut. i'm not looking for a $5 trillion tax cut. let me repeat what i said, i'm not in favor after $5 trillion tax cut. that's not my plan. >> a romney's plan could cost the country $5 trillion over the next five years. his friends at fox news says he doesn't have to explain his fuzzy math. here is chris wallace depending romney's flip-flop to o'malley. >> the president says that mitt romney is proposing a $5 trillion tax cut. that's not true. >> kras, wait a minute here. the governor -- i mean, former governor romney, is proposing 0% cut to income taxes, including for the wealthiest of americans and 30% cut to corporate income taxes. any economist my debate whether that is 4.9 trillion or 5 trillion. >> you're mischaracterizing the romney plan. you're right, 5 trillion by lowering the tax rates but also cuts about cutting loop holes and -- >> ahhhh. >> but that is part of the plan. >> but he won't say which loop holes and which deductions. >> joining me washington post kol columnest and author. you. >> you have a lot of heart, ed.
. >> first of all, i don't have a $5 trillion tax cut. i'm not looking for a $5 trillion tax cut. let me repeat what i said, i'm not in favor after $5 trillion tax cut. that's not my plan. >> a romney's plan could cost the country $5 trillion over the next five years. his friends at fox news says he doesn't have to explain his fuzzy math. here is chris wallace depending romney's flip-flop to o'malley. >> the president says that mitt romney is proposing a $5 trillion tax cut....
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bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions that will be cut to be able to pay for the $5 trillion tax cut that romney is offering? >> very good question. newt gingrich, one thing we're not getting from mitt romney is any real detail about how he's going to achieve this miraculous saving. can you explain to us any of the detail? >> well, first of all, there are at least two components to how he ends up paying for the tax cut. one is growth, where anybody who looks at getting down from obama's devastatingly high unemployment rate with 23 million americans out of work, if you get back to a normal unemployment rate you dramatic
bain, 47%, tax returns or women. what on earth was going on with him last night? four home runs, no hits taken. >> yeah. i can't answer why he didn't do that. but i can tell you this. i do know that he was waiting to hear from mitt romney about how he was going to pay for his $5 trillion tax cut and he didn't get an answer. i would love to know from newt gingrich, who i know has been working with and is a surrogate for the romney campaign. can he name two, at least two of the deductions...
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Oct 4, 2012
10/12
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. lower the exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over ten years, that's more than our entire defense budget, and you think
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way....
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Oct 8, 2012
10/12
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don't like the tax policy numbers, find your own. there is a lot of that going on. >> in fairness i think what mitt romney said is defensible in the sense that, in fact, we have seen millions of people drop out of the labor force. if they hadn't dropped out and they seem to have because -- some is anyonie i aging but a l find jobs. that's a fair thing to say. >> he's on stage alan west who on friday suggests this was part of leftist radicalism at work and part of the chicago machine manipulating labor statistics. >> indeed. then there are the crazy people. >> that speaks volumes. >> he probably didn't pick the appearance knowing what the jobs figures would be. i think it's fair to say the economy has been bachltd obama doesn't have much to do with it. the president can't do that much to control the economy. but four years ago obama got to run saying, they drove it into the ditch, i can drive it out. then it turns out he can't. now the next guy gets to say, i can drive it out. he also can't drive it out, but this is the ritual every f
don't like the tax policy numbers, find your own. there is a lot of that going on. >> in fairness i think what mitt romney said is defensible in the sense that, in fact, we have seen millions of people drop out of the labor force. if they hadn't dropped out and they seem to have because -- some is anyonie i aging but a l find jobs. that's a fair thing to say. >> he's on stage alan west who on friday suggests this was part of leftist radicalism at work and part of the chicago machine...
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tax releases, i'm sorry. i couldn't understand the level of attack, where he was going. it seemed like he just didn't really want to compete. >> well, look, piers, certainly there has been frustration by democrats on some of the lost opportunities here, but let's try to take a look at what he actually did and perhaps what he was thinking. he wanted to have a conversation with the american people and let's talk about one of the things that i actually think he did do right, which was look into the camera, i think it was a deft move because it really shows that he does want to have that direct conversation, talked about what he has done and what he wanted to continue to do, and point out the disastrous policies that romney wants to put in place. but what i think happened was while he wanted to quote, do no harm and he was practicing the political equivalent of the hippocratic oath, he let romney get away with being a total hypocrite and telling the blatant lies and blatant untruths and not going after him on the 47%, on his offshoring. i do think that that was missed opport
tax releases, i'm sorry. i couldn't understand the level of attack, where he was going. it seemed like he just didn't really want to compete. >> well, look, piers, certainly there has been frustration by democrats on some of the lost opportunities here, but let's try to take a look at what he actually did and perhaps what he was thinking. he wanted to have a conversation with the american people and let's talk about one of the things that i actually think he did do right, which was look...
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Oct 5, 2012
10/12
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in monaco they pay zero income tax, zero capital gains tax and zero inheritance tax. this is one of an army of accountants who help the wealthy tax kpiexiles. >> if you have a lot of money you're welcome. >> reporter: is this a safe place to enjoy wealth, is that right? >> absolutely. the monaco lifestyle. >> reporter: he lives in monaco and tennis championship and the super model and former beatle ringo starr are reportedly residents. keeping them company are thousands of millionaires to park in monaco they have to show they don't have a criminal record and residents of the european union. only a few can pass the test. having a bank account in monaco you need a minimum deposit of $400,000 and the country's real estate is the most expensive in the world. this apartment sold for more than $300 million. >> monaco is very safe. >> reporter: she sells most of the competenexpensive. >> the most expensive sold for around $13 million to a british client. >> any more details? >> no. no comment. >> reporter: in monaco secrecy is part of the service but foreign governments comp
in monaco they pay zero income tax, zero capital gains tax and zero inheritance tax. this is one of an army of accountants who help the wealthy tax kpiexiles. >> if you have a lot of money you're welcome. >> reporter: is this a safe place to enjoy wealth, is that right? >> absolutely. the monaco lifestyle. >> reporter: he lives in monaco and tennis championship and the super model and former beatle ringo starr are reportedly residents. keeping them company are thousands...
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Oct 5, 2012
10/12
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they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly residents.ing them compa keeping them company are thousands of millionaires. of they have to show that they show don't have a criminal record and that they are already residents of the european union. but only a few can pass the final test proving that they union. have enough money to live here. pass th to open a bank account in depos monaco, you need a minimum deposit of nearly $400,000 and the country's real estate is the most expensive in the world. this apartment sold for more more than $300 million. >> monaco is very safe. safe >> reporter: selling some of monaco's luxurious homes. what was the most expensive property yo
they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly...
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to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened in 1986, the last time the congress and the president reagan at the time undertook major tax reform. the president didn't come forward with a plan, take it or leave it plan that he presented to the congress. instead, he articulated some broad principles that would guide him in his negotiations with congressional leaders and those led to major tax reform. that created a major economic expansion in this country. those are the same principles that governor romney would follow, if he's elected as president. >> so, he's not going to spell
to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened...
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Oct 6, 2012
10/12
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i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress? >> i'm a business guy. i've created a lot of jobs. i understand the economy, budgets, how to get things done. obviously michele bachmann doesn't. so i'm prepared to go to congress and get things done, bring people together, make this economy work again and she doesn't. >> you just heard the congresswoman, though. how does your plan for the economy differentiate from hers? >> first and foremost we're not going to lower the minimum wage. that doesn't help anybody. what we need is good wage jobs. she's pledged to go to norquist and coke brothers. i'm pledging myself to
i'm a former federal tax lawyer and a business owner. i get how jobs are created but i also understand how they're destroyed. >> joining me now is her competitor, jim graves, the democratic nominee for minnesota's sixth congressional district. jim, thank you for joining me. >> thank you for having me on. appreciate it. >> you had no political experience, jim, until you began your campaign. i'm sure your constituents want to hear what makes you qualified to serve in congress?...
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Oct 9, 2012
10/12
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CURRENT
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he is an interesting position on tax and oh by the way he is lying his ass off. we have factored that in now. >> stephanie: yesterday's speech on foreign policy won't that have some effect over time as well? >> well -- i think -- i think that's -- if you want to look for a silver lining in both of the polls, it is that they are a snapshot taken right in the heart of what should have been a bounce. so we'll see what happens in the middle of next week. i was resistant to the notion, but i'm over it to now that that debate performance was a serious, serious blunder. >> stephanie: you write this week it has been pointed out that romney has become quite a remarkable liar. he lies by commission of course. and lies by admission namely in his resolution determination not to be specific about what deductions he is planning to end. >> they are particularly good at office [ inaudible ] mathematics. i'm particularly good at english. [ laughter ] >> stephanie: exactly. >> and that's hard by the way. it's very hard to throw poo efficiently. but he threw it -- we get to talk li
he is an interesting position on tax and oh by the way he is lying his ass off. we have factored that in now. >> stephanie: yesterday's speech on foreign policy won't that have some effect over time as well? >> well -- i think -- i think that's -- if you want to look for a silver lining in both of the polls, it is that they are a snapshot taken right in the heart of what should have been a bounce. so we'll see what happens in the middle of next week. i was resistant to the notion,...
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Oct 1, 2012
10/12
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CURRENT
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, $901,000 tax credit on foreign investments. >> us us. >> that he took. i want to know, there's four different countries, what was the income from that property and where is that declared? >> exactly right. i mean, i think you're correct you know, mitt romney's coming out now and his new message i'm not cutting taxes for the wealthy at all. you can't sign on to paul ryan's budget and say you don't want to cut taxes for the wealthy. >> exactly. >> that's a great question. do you think the president has got on edge here or he just needs to coast and not. >> up or do you think it's still an uphill battle for him? >> i'm sure it's going to be uphill because of the famous dumb white men. >> as a dumb white man i take offense to that. >> other than yourself, of course. >> thank you, thank you. >> apparently that's the only down poll for him. >> let's be fair, there's plenty of dumb white women out there as well. her man contain has changed all the rules, as well. i think you're right. let me ask you your opinion here. i think governor romney is a much better de
, $901,000 tax credit on foreign investments. >> us us. >> that he took. i want to know, there's four different countries, what was the income from that property and where is that declared? >> exactly right. i mean, i think you're correct you know, mitt romney's coming out now and his new message i'm not cutting taxes for the wealthy at all. you can't sign on to paul ryan's budget and say you don't want to cut taxes for the wealthy. >> exactly. >> that's a great...
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Oct 1, 2012
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is now looking for a global tax. now, we're calling global tax maggedden. where we would pony up a huge portion of the tax receipts into the u.n. and they would distribute them throughout the world to the needy. what do you think of this? >> i think it's incredible. first of all, we are the needy. maybe they should do it where china should write off their trillion dollars that they wrote us and more. by the way, if you look what's going on, they are serious about this where we're supposed to give more money to other countries. we don't have money for ourselves. so it's just another ploy. we'll educational background up being -- end up being, because we are run by people globe know what they're doing issues we'll be the only nation that gives. >> gretchen: i got bad news for you, you're going to be taxed 1% tax on billionaires around the world. that's part of this whole deal. >> i can imagine the people that are going to distribute the money. i've seen the people. i have buildings over there. i see them all the time. you should see the people that are going
is now looking for a global tax. now, we're calling global tax maggedden. where we would pony up a huge portion of the tax receipts into the u.n. and they would distribute them throughout the world to the needy. what do you think of this? >> i think it's incredible. first of all, we are the needy. maybe they should do it where china should write off their trillion dollars that they wrote us and more. by the way, if you look what's going on, they are serious about this where we're supposed...
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should we have tax reform?
should we have tax reform?
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Oct 8, 2012
10/12
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>> they get a tax credit. they make a movie here, 25 cents of every dollar you spend is a tax credit. you pay lower taxes. if, however, you are just a regular person in california, hollywood wants you to pay more in taxes. they support governor brown who suppose has whopping tax increase for everybody in california. so that's the hypocrisy. hollywood wants a tax break for them, but maneuvers to get higher taxes for everybody else in the state of california. >> steve: i got a news flash for jerry brown, his state is broke. >> yes, it is. >> steve: so for them to extend these tax breaks, and it would be essentially a tax credit on your state taxes that the movie companies would enjoy, this is not the time to be giving rich guys big fat tax breaks. >> by the way, 12 other states which used to offer the same kind of tax breaks to movie companies, come make a movie in my state, they've withdrawn on limited those because they have run out of money. california has run out of money, but they say keep that gravy train
>> they get a tax credit. they make a movie here, 25 cents of every dollar you spend is a tax credit. you pay lower taxes. if, however, you are just a regular person in california, hollywood wants you to pay more in taxes. they support governor brown who suppose has whopping tax increase for everybody in california. so that's the hypocrisy. hollywood wants a tax break for them, but maneuvers to get higher taxes for everybody else in the state of california. >> steve: i got a news...
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Oct 6, 2012
10/12
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dollar tax cut. >> for 18 months, he has been running on this tax plan. and now, five weeks before the election. is he saying that his big bold idea is never mind. >> bret, how would you handle that, the tax debate? >> well, i thought governor romney really handled it well. he never let the president mischaracterize his tax plan. he, every tame the president tried to say it was a 5 trillion-dollar spending. governor romney went back, corrected the president, and then went back immediately on offense against the president's economic policies. >> of course, the president. >> he handled it exactly the way it should have been handled. >> of course the president didn't want to hear the word solyndra but it was brow up. listen to this. >> you put $90 billion, like 50 years worth of breaks into solar and wind. to solyndra and face cure and tesla and inner one. i have a friend who says you don't just pick the winners and losers, you pick the losers. >> good exchange there. real quickly because we're out of t
dollar tax cut. >> for 18 months, he has been running on this tax plan. and now, five weeks before the election. is he saying that his big bold idea is never mind. >> bret, how would you handle that, the tax debate? >> well, i thought governor romney really handled it well. he never let the president mischaracterize his tax plan. he, every tame the president tried to say it was a 5 trillion-dollar spending. governor romney went back, corrected the president, and then went back...
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gains taxes. >> if there ever was any. >> people are furious. all of the wealthy executives petitioned for higher taxes and said please, it was warren buffett like in some ways, we deserve to pay higher taxes, we get it, want to do it and they're freaking out, real estate prices are plunging. >> what did they expect taxes were going to go -- >> their highest marginal rate was 41%, they thought maybe it goes to 45, 50, 55. >> went to 75. >> but it's the capital gains which is killing people. if you're an entrepreneur you're not starting your company there and they're already starting to backtrack on that and the other piece of it is hollande's administration -- >> starting to backtrack. >> 75% is just for two years or they say just for two years. perhaps the more interesting story though this morning -- >> instead of the bush tax cuts. >> swan vomit lake, that is what lady gaga is calling it, this is sort of gross. ♪ people are eating their breakfast now. do not look, if you want to look, see it on the internet yourself but we're not going to s
gains taxes. >> if there ever was any. >> people are furious. all of the wealthy executives petitioned for higher taxes and said please, it was warren buffett like in some ways, we deserve to pay higher taxes, we get it, want to do it and they're freaking out, real estate prices are plunging. >> what did they expect taxes were going to go -- >> their highest marginal rate was 41%, they thought maybe it goes to 45, 50, 55. >> went to 75. >> but it's the...
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president, who never mentioned romney's comments on the 47% of americans who don't pay federal income taxes. >> 47% of the people who will vote for the president no matter what. >> reporter: with an obama campaign ad still repeating those remarks, romney tried to put an end to the controversy once and for all on fox. >> clearly in a campaign with hundreds, if not thousands of speeches and question and answer sessions, now and then you are going to say something that doesn't come out right. in this case, i said something that's just completely wrong. >> reporter: democrats maintain that tone deafness extends from main street to sesame street. so obama aides sent a protester in a big bird outfit to romney's event in virginia to mock his call to end funding for pbs. romney will spend part of his weekend in florida, back in debate prep. the other part hitting the president once again on the economy. as one senior romney adviser put it, weak job growth should not be the new normal. jim acosta, cnn, st. petersburg, florida. >>> speaking of mitt romney, taking the stage in florida shortly for a ra
president, who never mentioned romney's comments on the 47% of americans who don't pay federal income taxes. >> 47% of the people who will vote for the president no matter what. >> reporter: with an obama campaign ad still repeating those remarks, romney tried to put an end to the controversy once and for all on fox. >> clearly in a campaign with hundreds, if not thousands of speeches and question and answer sessions, now and then you are going to say something that doesn't...
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he says he is going cut taxes by $4.8 trillion, but no taxes that will contribute to the deficit? >> yeah. that one stuck out, especially since you can go right back to the primary campaign and when he was debating newt gingrich and rick santorum and the rest of the crew, he said hey wait a second, i'm going to reduce taxes by 20% across the board including the top 1%. that was his line. and the other thing that really stuck out is this issue of preexisting conditions when he looks into the camera and says hey, my plan does cover preexisting conditions. well that is just not true. it doesn't cover preexisting conditions for people who haven't had insurance before, which is a big part of the problem, literally millions and millions of people who would not be covered under his plan. >> bill: the one that really disappointed me to say the least, three times he came back to president obama has cut medicare benefits by $716 billion. >> yeah well there's -- there are a number of problems with that, starting with that it's not true. it's -- what he has done is they found savings on the p
he says he is going cut taxes by $4.8 trillion, but no taxes that will contribute to the deficit? >> yeah. that one stuck out, especially since you can go right back to the primary campaign and when he was debating newt gingrich and rick santorum and the rest of the crew, he said hey wait a second, i'm going to reduce taxes by 20% across the board including the top 1%. that was his line. and the other thing that really stuck out is this issue of preexisting conditions when he looks into...